Citizens Raises Papzimeos Sales Forecast After Precigen's Q3 Topline Beat Sees 142% Upside Potential In PGEN Stock
- Precigen reported Q3 revenue of $74.1 million, above Wall Street estimates of $71.6 million, according to Fiscal. Precigen achieved its first-ever cash-flow-positive quarter ahead of guidance. The company posted net income of $35.8 million, compared with a net loss a year earlier.
Precigen (PGEN) was on investors' radar on Thursday, after the biotech firm reported a better-than-expected third-quarter print led by sales of its recurrent respiratory papillomatosis (RRP) drug, prompting Citizens to raise its price target on the stock.
Citizens raised PGEN's price target to $12 from $11 and maintained a 'Market Outperform' rating, according to Investing. The new target implies about 142% upside from current levels.
Despite the earnings beat and the bullish analyst update, PGEN shares slid 2% in pre-market trading.
Citizens Sees Stronger Papzimeos Sales
Precigen reported Q3 revenue of $74.1 million, up from $2.9 million a year earlier, and above Wall Street estimates of $71.6 million, according to Fiscal. Citizens said Papzimeos generated $72.9 million in sales, beating its $60 million forecast.
The company posted net income of $35.8 million, or $0.08 per share, compared with a net loss a year earlier. Crucially, Precigen generated $11.9 million in operating cash flow, achieving its first-ever cash-flow-positive quarter ahead of guidance. It held $51 million in cash, cash equivalents and investments as of Sept. 30.
Citizens Raises Papzimeos Sales Guidance
Citizens raised its Q4 sales forecast for the drug to $88 million from $65 million and increased its full-year 2027 estimate to $429 million from $303 million.
Papzimeos received FDA approval in August 2025 to treat adults with RRP, a rare HPV-related disease that causes recurring growths in the airways, potentially affecting breathing and speech.
Retail Says PGEN Is Undervalued
Despite the pre-market slide, retail sentiment on PGEN on Stocktwits remained 'extremely bullish' over the past 24 hours, while message volumes rose 225%.
One user called the stock 'undervalued,' adding that it should be worth at least $8.
View this Stocktwits postPGEN shares have gained more than 18% so far this year.
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